Savor rights issue to fund Amano opens

Fri, 19 Mar 2021

Restaurant Group Savor has opened its rights issue to fund the acquisition of the Amano Group of restaurants.The NZX-listed company is raising $6 million through a one-for-4.3 rights issue. The price is 17.67 cents per share – a 15% discount to the last traded price on March 9. Shares opened this morning at 23 cents.Savor announced on March 10 it would pay $11m for Amano, Ortolana and the Store from Hip Group.The rights issue underwriters comprise existing substantial shareholders and new professional financial investors but Sa...

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